10X Capital launches first U.S. BNB Treasury Company with YZi Labs, aiming for public listing to boost BNB access.
10x Capital, a New York-based company, has announced its intention to become a BNB Treasury company in the United States. The company has received support from YZi Labs, a Web3 investment firm. The CLARITY Act, on the brink of being passed next week, has instilled a greater sense of confidence among firms in accumulating top-tier digital assets in the United States, thanks to the improved crypto regulations. Today, the price of BNB is up a modest 1.5% to $672, reaching monthly highs at the time of publication.
BNB Treasury Company to be listed on the US stock index by 10X Capital
10X Capital, a prominent investment firm concentrating on cryptocurrencies, has recently disclosed its intention to establish a BNB Treasury corporation on the BNB Chain. In a comparable move, Nano Labs, which is listed on Nasdaq, acquired 74,315 BNB in an over-the-counter (OTC) transaction for $50 million at an average price of $672.45 last week.
In addition, investment firm 10x Capital disclosed its intention to list this Treasury firm on a significant U.S. stock exchange, attracting Wall Street capital and providing traditional investors with exposure to BNB. YZi Labs, a Web3 investment vehicle, has expressed its endorsement of the same, stating:
“BNB meets Wall Street. YZi Labs is officially supporting 10x Capital to develop the BNB Treasury Company. U.S. investors now have a gateway for BNB’s growth. YZi Labs champions BNB as a treasury asset.”
The competition for crypto treasury among corporate actors is on the rise. Wall Street firms are capitalizing on critical opportunities with cryptocurrency, beginning with Bitcoin Treasury, followed by Ethereum, Solana, and now BNB. Additionally, 10X Capital has collaborated with Cohen & Company Capital Markets and Clear Street LLC to secure the required Capital to finance its BNB acquisition strategy.
Hans Thomas, the Founder and CEO of 10X Capital, stated that institutional and retail investors have limited exposure to the growth of BNB, even though the BNB Chain ecosystem is one of the “highest performing digital assets ecosystems globally.”
Hans Thomas stated, “We believe that the opportune moment has arrived for a pure-play treasury company that is institutionally managed, well-capitalized, and a gateway between decentralized innovation on BNB Chain and U.S. investors.”
What is the future of BNB?
BNB’s price is currently trading at $670, with a daily trading volume of 14.5% to $1.7 billion, a modest 1% increase from today’s development. As previously stated, the BNB price is poised for a 20% upward surge, as evidenced by the over $600 million in commitments to the BNB Treasury in the past month. A breakout with robust trading volume could result in a sustained upward trend for BNB, which is presently trading at its all-time high.